Asian stock markets are again having a mixed reaction to the rises on Wall Street overnight, with some pullback in strength in USD seeing a little bounce in the Australian dollar and other pairs like Yen, which is pulling back Japanese shares from their start of week good position. Meanwhile oil prices are coming back slowly with Brent crude pushing back above the $83USD per barrel level as gold also consolidates after its huge selloff on Friday night overnight, currently settling just above the $1875USD per ounce level:
Mainland Chinese share markets are wavering with the Shanghai Composite down 0.1% to 3245 points while the Hang Seng is clawing back its previous losses, up more than 0.3% to 21362 points. Japanese stock markets are pulling back however with the Nikkei 225 down 0.4% to 27570 points with the USDJPY pair bouncing slightly after its nasty pullback from overnight, currently sitting just above the 131 level:
Australian stocks are preforming quite well with the ASX200 up over 0.4% to be back above the 7500 point level at 7533 points. The Australian dollar is holding on to its overnight gains but still quite shy of the 70 handle and overhead resistance as this small bounce needs another lift before turning into anything substantial:
Eurostoxx and US futures are slowly rising after their solid gains from overnight trade with the S&P500 four hourly chart showing price action extending well above the strongly supported 4100 point zone, with short term momentum now pushing back into overbought territory:
The economic calendar is relatively quiet tonight with some Fed speeches and wholesale inventory reports from the US.